Australian Dollar Technical Outlook

Published July 7th, 2008 - 08:00 GMT
Al Bawaba
Al Bawaba

As we wrote on Friday, “The rally from .9511 is an impulse, indicating that the AUDUSD trend remains up.



A small correction should play out over the next few days.  Look for support near .9581 and .9563.  A bullish bias is warranted against .9511.” If today’s support level; at 9563 holds the up bias remains firmly in place.

STRATEGY: Get bullish near .9570, against .9511, target above .9667